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1609 Raymond Hill Road

South Pasadena, CA 91030

$2,650,000

List Price

N/A

bed Beds

shower Baths

N/A sqft

straighten / sqft

1946

calendar_month Built

Property Description

1609 Raymond Hill Road offers an exceptional investment opportunity in prestigious South Pasadena. Rarely available, fully occupied rental income property with space to add additional dwellings via ADU laws. Current monthly rents are $11,540/month, $138,408/Year. Built in 1946 on the grounds of the Raymond Hotel, this 4 unit property consists of four, 2 bedroom, 1 bath apartments of approximately 950 square feet each. Built in an era of good quality apartment homes, the property was fully updated in 2004 with new roofs, central HVAC units for each of the four apartments, new plumbing and updates to the interiors. Bathrooms feature subway tile. All kitchens updated with granite countertops, stainless steel appliances. Bathrooms feature subway tile. Central entrance for all four apartments with two located on the main level and two upstairs The property attracts long term tenants who value amenities like in-home stackable laundry, fireplaces, hardwood floors, window nooks with seating, and very functional floorplans that are light and bright along with easy parking. Detached 4 car garage provides one space per tenant in addition, there are 4 more uncovered parking spaces on site. Triangular shaped parcel creates multiple yard spaces with large trees, sitting areas and room for tenants to host BBQ's. South Pasadena is well known for excellent schools, sense of community and great access to job centers in the region. This property abounds with quality and character while offering a savvy investor the opportunity to add value in a top quality rental market. One of the sellers is a licensed realtor.

Listing Information

List Price $2,650,000
Status Active
MLS P119233
HOA $0
Type Residential Income
Subtype Quadruplex
Year Built 1946
Lot Size 12,765
Structure Size N/A
DOM 11
Courtesy Of Coldwell Banker Realty
Listing Agent Rosey Bell DRE#01185053

Interior Features

Laundry Information
Location(s) Washer Hookup, Inside, Stacked
Total Bedroom
Bedrooms N/A
Flooring Information
Material Tile, Wood
Fireplace Information
Features Gas, Living Room
Additional Information
Additional Features Crown Molding, Granite Counters
Cooling Type
Cooling Type Central Air

Exterior Information

Maps

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Listing information courtesy of: Rosey Bell, Coldwell Banker Realty . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 5:55 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.